Just because a guy can build a retail store or shopping mall doesn't mean he's a good fit for a rehab, or custom home, or duplex.

@Joe T.A few years ago, we had a young tenant - one of our first turnovers - who moved into one of our units and her parents (mother mostly) had a shopping list of similar upgrades they thought would be appropriate (countertops, cabinets, bathroom vanity {colour was wrong}, etc.) - there was nothing functionally wrong with anything in the apartment, it was just not level of finish they had at home. 

  :)  If there is some workaround for this - like the numbers are so right that you can take the car to a shop instead, or your buddy across town is willing to let you use his garage if you refill his beer fridge - then you might be more able to live with the "no garage" compromise.

The "city fathers" will want developers with experience, proven track records, capital backing and commitments, all too often someone tries to build a shopping center or residential neighborhood and the run out of steam and can't finish the project, they don't want failed projects for various economic and social reasons.Generally, you'll find local developers who are "favored" in doing certain types of projects, in reality you'll need to be a bird-dog for them, to be good at that, just like the landlord mentioned, you need to understand costing of developments, time lines and other facets of development.

So, while we might have been able to save a little on the rehab costs if we shopped contractors and managed it ourselves, the deal still swims.  

Bill hit it on the head, but it in this instance I would shop around and see if you can find anything better then that.  

For conventional mortgages, is it recommended to shop around with different lenders to try and get a better interest rate or do they all pretty much offer the same rates?

If I do, I will NEVER shop at Lowes again.  

Is anyone planning to do a little tax sale shopping on the 10th?  

You'd have to find a shop that is a dealer for that manufacturer.